GST Reforms will increase growth and jobs in MSME: Center

New -Delhi, September 14 (IANS). Reducing GST rates on cars, food processing, clothing, logistics and crafts will strengthen supply chains and increase local manufacturing. In particular, there will be more jobs for women, rural entrepreneurs and workers in the informal sector. This information was given by the government. For example, low GST on two -wheelers, cars, buses and tractors will increase the demand, leading to MSME in the fields of tires, batteries, glass, plastic and electronics. Affordable bikes appear to be useful for gig workers, farmers and rural traders and cheap cars are useful for MSMEs and traders in small cities. Reducing GST on tractors (less than 1800 cc) to 5 percent reinforces the leading position in India’s global tractor manufacturing and helps help -msm. GST on commercial trucks (trucks, delivery wagons) was reduced from 28 percent to 18 percent, which benefited the cargo, logistics cost, inflationary pressure and MSME truck owners. The GST on buses (10+ seats) was reduced from 28 percent to 18 percent, reducing the cost of naval operators, schools and improvement in the tariff abnormal for laborers. GST on most foods has been reduced from 12 percent/18 percent to 5 percent or zero, which will benefit from MSMEs related to food processing, small processors, regional marks, dairy cooperatives, packaging and chilling. In addition, GST on chocolate, cake and sugars will increase the sales of small sweets manufacturers. The dairy sector will benefit from the zero of milk and cheese, reduced from 12 percent to butter and ghee from 5 percent. This will benefit farmers, self -help groups, women’s businesses and nutritional safety. GST on milk compartments has been reduced from 12 percent to 5 percent. GST on human -made fibers was reduced from 12 percent to 5 percent, which improved the reverse fee structure and increased competition for MSME textile manufacturers and exporters. Now GST has been reduced to 5 percent on ready-made clothing to R 2,500, which will increase demand in the level-2/3 cities and labor-dominated clothing units, especially women will benefit. GST on leather products has been reduced from 12 percent to 5 percent (less than Rs 2,500 per pair), which will benefit the MSME of the construction sector of the shoes. The GST on cement is reduced from 28 percent to 18 percent, which will reduce the cost of housing and support PMay, which will promote work in mining, manufacturing and logistics. GST has been reduced from 12 percent to 5 percent on Agro -based wooden products (rice kicks, bamboo floors, etc.), which will help MSME Wood product units. The low rates of GST have made essential commodities, raw materials and services more economical, which encouraged small and medium businesses and new businesses to expand, invest in innovation and compete domestic and worldwide. The government said these reforms supported goods, processed foods, costumes and even environmentally friendly products accessible to low costs, supporting women’s linings and labor-dominated industries, which promote the economic inclusion of workers in urban manufacturers as well as rural, semi-urban and informal sector. -Ians abs/